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Consider the following version of the beauty contest game. There are n > 2 players. Each player i submits a real number xi ? [0,100]. Let x‾ be the mean of the numbers submitted. Suppose among these n players, there are m players whose payoffs are given by (xi -x‾)2, where 0 < m < n/2. The remaining n - m players have the payoffs given by 200 - (xi -2x‾/3)2. Assume that it is common knowledge in this game that every player is maximizing his/her own payoff.
(a) Prove that xi ? (0, 100) is a strictly dominated strategy for each of the m players.
(b) Compute the set of rationalizable strategies that survive iterated elimination of strictly dominated strategies. You need to figure out the rationalizable strategies of the first m players, and the rationalizable strategies for the remaining n - mplayers.
(c) Compute the rationalizable strategies when m = 5 and n = 100?
Explain from firm A's perspective the expected decision that firm B will make and does situation have a Nash Equilibrium?
Demand for airline tickets fluctuates throughout the year, which affects the price of an airline ticket. Suggest the type of game that may be most appropriate for a specific airline to play to address the differences in demand and elasticity and the ..
According to a survey, only 15% of customers who visited the web site of a major retail store made a purchase. Random samples of size 50 are selected.Referring to the information, the average of all the sample proportions of customers who will mak..
Find a Nash equilibrium in which some citizen does not vote for her favorite candidate, but the action she takes is not weakly dominated.
The following hypothetical data demonstrate the relationship. The dependent variable is a measure of language skill at age 3 for each child. Do the data indicate any significant differences? Test with α=0.05.
Review the scholarly literature on the relationship between theory and research and the ways research (quantitative and qualitative) can contribute to theory.
In the game of roulette, a player can place a $8 bet on the number 33 and have a 1/38 probability of winning. If the metal ball lands on 33, the player gets to keep the $8 paid to play the game and the player is awarded an additional $280.
What is the Nash equilibrium in this game? Is there a first-mover advantage or first-mover disadvantage in this game?
Find the top cycle set, and for each alternative a in the set design a binary agenda for which a is the outcome of sophisticated voting.
The form will have a textbox in which the user will enter an integer number to match against the next number in the array.
What is the subgame perfect pricing policy for Tony - Please make sure you write down the strategies for all players and show why it is subgame perfect
Advanced Micro Devices declared a 10 percent price raise for certain advanced microprocessors, used primarily in video games. The processors will sell for about $1,000 compared to Intel's $950 price.
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